OBC Q1 net rises 27 Per cent

New Delhi:Oriental Bank of Commerce has recorded a net profit of Rs 181 crore for the quarter ended June 30, 2004, a 27 per cent rise over the net of Rs 142 crore in the corresponding period in the previous year.

The total business of the bank has risen to Rs 57,066 crore on June 30, from Rs 46,223 crore in the first three months of the previous fiscal.

The bank has maintained net non-performing assets (NPAs) of zero per cent with NPA coverage of 102.8 per cent. The return on assets has gone up from 1.6 per cent to 1.7 per cent during the quarter ended June 2004.